The Drop in Bitcoin and Ethereum Liquidated Millions of Dollars Worth of Long Positions! Here are the Details

Crypto markets experienced a turbulence wave in the last 24 hours, causing sharp price fluctuations for Bitcoin and Ethereum and leading to liquidations exceeding $520 million.

The Cryptocurrency Market Experienced Over $520 Million in Liquidation Amidst Increasing Volatility

Data from Coinglass revealed that approximately 186,000 investors were liquidated, with a total liquidation of 524.8 million dollars on centralized exchanges.

Bitcoin (BTC) led the liquidations by closing positions above $142.5 million, with $101 million in long positions. Ether (ETH) also saw significant liquidations, totaling $89.9 million, with $49.2 million from long positions.

Liquidations occur when investors' positions are forcibly closed due to insufficient margin to cover losses during high market volatility.

As of writing this, Bitcoin traded at $92,500, down 2.26% in the last 24 hours. This comes after BTC surpassed $100,000 earlier this week and followed a brief fluctuation caused by the optimism surrounding the new administration's crypto-friendly policies.

Ether extended its losses, falling to $3,208 with a 0.85% drop after the double-digit decline from the previous day.

Fluctuation coincides with a period of increased market activity and investor sensitivity. Analysts suggest that recent macroeconomic developments and regulatory expectations may contribute to fluctuations.

Market observers will continue to monitor the effects of increased volatility and caution investors under uncertain conditions.